NEW YORK, May 31, 2026, 11:01 EDT
Apple stock is near its record levels as June starts, closing Friday at $312.06, down 0.14%. The holiday-shortened week ended with shares up about 1% from the previous Friday. Friday’s session saw a high of $315, which matched the top of its May trading range, according to market data.
Investors are facing a shortened week. U.S. markets were closed Monday for Memorial Day and will also be closed Sunday. That gives traders less time to react, with the focus shifting from last quarter’s iPhone demand to what Apple can say about artificial intelligence. Nasdaq marks Memorial Day, May 25, as a market holiday for 2026.
Apple wasn’t out front on Friday’s tech move. Stocks closed at new highs, pushed up by a 32.8% jump in Dell after its upbeat forecast, and Microsoft, up 5.4%. Alphabet dropped 2.5%. Wells Fargo chief equity strategist Ohsung Kwon said there was “euphoric sentiment” on AI and that stronger earnings drove the rally. Reuters
Apple is back where it often is—near the market’s center, still facing pressure to show how it can make AI drive sales, boost services, and keep users locked into the iPhone. The S&P 500 stretched its win streak to nine weeks, and the Nasdaq gained 2.4% this week, raising the bar on expectations for the big tech stocks.
BofA Securities’ Wamsi Mohan boosted his Apple price target to $380 from $330 last week and kept a Buy rating. Mohan said Apple has to evolve Siri into what he called “the orchestration layer of the iPhone” to win. His call focused on agentic AI—software that can act for users, like booking, paying, or scheduling, not just answering prompts. TheStreet
Apple posted March-quarter revenue of $111.2 billion, up 17%, with diluted EPS at $2.01, a 22% increase. CEO Tim Cook called it the company’s “best March quarter ever.” The board also authorized a $100 billion stock buyback, which can cut the share count when completed. Apple
Apple’s Worldwide Developers Conference starts June 8 and runs through June 12, with the keynote and Platforms State of the Union both on June 8. Apple says it will show off new AI features, software updates and developer tools. The coming week isn’t event week, it’s a setup week.
WWDC could just show small Siri updates. If that happens, or if not enough apps work with Apple’s AI, the story could stall. There’s a sharper risk, too: users might start turning to ChatGPT, Google’s Gemini or other assistants for daily tasks. Apple may still sell the device, but miss out on new AI value.
Apple is getting the benefit of the doubt for now. Shares ended the shortened week higher, with Friday’s session seeing strong volume. Investors are still paying up for stocks with AI earnings stories. But AAPL doesn’t look cheap at this point.
Apple still has to prove Siri is more than just another overdue feature. Investors are watching to see if Siri can run apps, handle payments, and be the iPhone’s main hub for personal data. With the next event set for June 8, that’s the question taking priority over whatever the stock does in the meantime.
